Detailed Single Year Tables

Description of Proposed Provision:
Progressive indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2017, continuing through 2054, and resuming in 2075: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum is reduced by 1.13 percent per year as compared to current law (for the years that progressive indexing applies). Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2014

13.95

12.67

-1.29

320

0.00

0.00

0.00

2015

13.97

12.92

-1.05

306

0.00

0.00

0.00

2016

13.97

12.89

-1.08

292

0.00

0.00

0.00

2017

13.97

12.91

-1.06

277

0.00

0.00

0.00

2018

14.01

12.93

-1.08

263

0.00

0.00

0.00

2019

14.14

12.94

-1.20

248

-0.01

0.00

0.01

2020

14.32

12.96

-1.36

233

-0.01

0.00

0.01

2021

14.48

12.98

-1.50

219

-0.02

0.00

0.02

2022

14.70

13.01

-1.69

204

-0.03

0.00

0.03

2023

14.95

13.03

-1.92

189

-0.05

0.00

0.05

2024

15.20

13.05

-2.15

173

-0.07

0.00

0.07

2025

15.44

13.07

-2.38

156

-0.10

0.00

0.09

2026

15.66

13.08

-2.58

140

-0.13

-0.01

0.12

2027

15.87

13.10

-2.77

123

-0.16

-0.01

0.15

2028

16.05

13.11

-2.94

106

-0.20

-0.01

0.19

2029

16.20

13.12

-3.08

89

-0.24

-0.01

0.22

2030

16.33

13.13

-3.19

71

-0.28

-0.01

0.26

2031

16.42

13.14

-3.28

52

-0.32

-0.02

0.31

2032

16.49

13.15

-3.35

33

-0.37

-0.02

0.35

2033

16.53

13.15

-3.38

13

-0.42

-0.02

0.40

2034

16.56

13.16

-3.41

----

-0.47

-0.02

0.45

2035

16.57

13.16

-3.41

----

-0.52

-0.03

0.50

2036

16.55

13.16

-3.39

----

-0.58

-0.03

0.55

2037

16.51

13.16

-3.35

----

-0.64

-0.03

0.60

2038

16.45

13.16

-3.28

----

-0.69

-0.04

0.66

2039

16.37

13.16

-3.21

----

-0.75

-0.04

0.71

2040

16.28

13.16

-3.12

----

-0.81

-0.04

0.77

2041

16.18

13.15

-3.03

----

-0.87

-0.05

0.82

2042

16.08

13.15

-2.93

----

-0.93

-0.05

0.88

2043

15.98

13.15

-2.84

----

-1.00

-0.05

0.94

2044

15.89

13.14

-2.75

----

-1.06

-0.06

1.01

2045

15.81

13.14

-2.67

----

-1.13

-0.06

1.07

2046

15.73

13.14

-2.59

----

-1.20

-0.06

1.14

2047

15.64

13.13

-2.51

----

-1.27

-0.07

1.21

2048

15.56

13.13

-2.43

----

-1.35

-0.07

1.27

2049

15.47

13.13

-2.35

----

-1.42

-0.07

1.34

2050

15.40

13.12

-2.28

----

-1.49

-0.08

1.41

2051

15.33

13.12

-2.21

----

-1.56

-0.08

1.48

2052

15.27

13.12

-2.16

----

-1.64

-0.09

1.55

2053

15.22

13.12

-2.11

----

-1.71

-0.09

1.62

2054

15.18

13.11

-2.07

----

-1.79

-0.09

1.69

2055

15.15

13.11

-2.03

----

-1.87

-0.10

1.77

2056

15.12

13.11

-2.00

----

-1.94

-0.10

1.84

2057

15.09

13.11

-1.98

----

-2.02

-0.11

1.91

2058

15.07

13.11

-1.95

----

-2.09

-0.11

1.98

2059

15.04

13.11

-1.93

----

-2.17

-0.12

2.05

2060

15.02

13.11

-1.91

----

-2.24

-0.12

2.12

2061

15.01

13.11

-1.89

----

-2.30

-0.12

2.18

2062

14.99

13.11

-1.88

----

-2.36

-0.13

2.24

2063

14.98

13.11

-1.87

----

-2.42

-0.13

2.29

2064

14.97

13.11

-1.86

----

-2.48

-0.13

2.35

2065

14.97

13.11

-1.85

----

-2.53

-0.14

2.40

2066

14.97

13.11

-1.85

----

-2.58

-0.14

2.44

2067

14.97

13.11

-1.86

----

-2.63

-0.14

2.49

2068

14.97

13.11

-1.86

----

-2.67

-0.14

2.53

2069

14.98

13.11

-1.87

----

-2.71

-0.15

2.57

2070

14.99

13.11

-1.87

----

-2.75

-0.15

2.61

2071

14.99

13.11

-1.88

----

-2.79

-0.15

2.64

2072

15.00

13.12

-1.88

----

-2.82

-0.15

2.67

2073

14.99

13.12

-1.88

----

-2.85

-0.15

2.70

2074

14.99

13.12

-1.87

----

-2.88

-0.15

2.72

2075

14.98

13.12

-1.87

----

-2.90

-0.16

2.74

2076

14.97

13.12

-1.86

----

-2.92

-0.16

2.76

2077

14.96

13.11

-1.84

----

-2.93

-0.16

2.78

2078

14.95

13.11

-1.83

----

-2.95

-0.16

2.79

2079

14.93

13.11

-1.82

----

-2.96

-0.16

2.80

2080

14.92

13.11

-1.81

----

-2.98

-0.16

2.82

2081

14.92

13.11

-1.81

----

-3.00

-0.16

2.83

2082

14.92

13.11

-1.81

----

-3.02

-0.16

2.85

2083

14.93

13.11

-1.81

----

-3.04

-0.16

2.88

2084

14.93

13.11

-1.82

----

-3.07

-0.17

2.90

2085

14.94

13.11

-1.83

----

-3.10

-0.17

2.93

2086

14.96

13.11

-1.84

----

-3.13

-0.17

2.96

2087

14.97

13.12

-1.85

----

-3.17

-0.17

3.00

2088

14.98

13.12

-1.87

----

-3.21

-0.17

3.04

2089

14.99

13.12

-1.88

----

-3.25

-0.18

3.07

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2014 Trustees Report.

2014-2088

15.46%

13.82%

-1.64%

2033

-1.31%

-0.07%

1.24%

&nbsp

1 Under present law, the year of Trust
Fund reserve depletion is 2033.